In a previous post, I made light of a few questions that may not be as valuable as one would think. Here are some better ones for those who know how to use them. So on a more serious level of analysis, here are:
3 questions to the Listing Agent that will generate valuable answers and make you look outstanding.
1) What is the replacement cost of this home and/or are there any appraisals that you can share with me?
The agent probably does not know but they can get the information if it exists. If they attempt or are successful at getting the information you have established 1.) a relationship and 2.) the level of expectation from the sellers price perspective.
Question Really Implies: “I am looking for value and I am serious. No need to do COMPS.”
2) What Terms, Conditions, or Special Incentives is the seller willing to discuss to generate an “Impressive Offer”?
After all, a buyer may pay full price if the seller will finance at a great rate, with a small amount down, or take a second mortgage. Price is but one (admittedly large) component of a real estate transaction.
Question Really Implies: “I am not a cheapskate, I am knowledgeable, and I just may be the creative buyer you are really looking for.”
3) As a listing agent, can your company effectively and ethically represent me and the seller via designated agency?
Many brokerages will not allow Dual Agency but can perform Designated Agency. This route can allow a bit more direct path to a seller with a higher degree of influence in the negotiation process.
Question Really Implies: “I know you agents work on commission and I am delivering you an opportunity to double your income if you treat me right.” (some of us in the business call this an attention getter)
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